the great depression vocab

Stock Market Crash - A sudden dramatic decline of stock prices across a significant cross-section of a stock market, which occurred in October 1929 and marked the beginning of the Great Depression.

The Great Depression: a worldwide economic downturn that lasted from 1929 until the late 1930s, characterized by high unemployment, widespread poverty, and significant declines in industrial production and international trade.

Herbert Hoover: the 31st President of the United States, who held office during the onset of the Great Depression and was often criticized for his handling of the economic crisis.

Agricultural Adjustment Act (AAA): A federal law enacted in 1933 aimed to boost agricultural prices by reducing surpluses and paying farmers to cut back on production to help stabilize the economy.

Civilian Conservation Corps (CCC): A public work relief program established in 1933 that provided jobs for unemployed young men in environmental conservation projects, such as planting trees, building flood barriers, and maintaining national parks.

Works Progress Administration (WPA): A New Deal agency created in 1935 that provided millions of jobs for unemployed Americans, focusing on public works projects including the construction of roads, bridges, schools, and other infrastructure.

Federal Deposit Insurance Corporation (FDIC): A government agency established in 1933 to provide insurance for bank deposits, protecting depositors' funds and helping to restore public confidence in the banking system.

National Labor Relations Act (Wagner Act): A landmark labor law enacted in 1935 that aimed to protect the rights of workers to organize and engage in collective bargaining, strengthening labor unions.

National Recovery Act (NRA): A key piece of legislation passed in 1933 that aimed to stimulate economic recovery by promoting fair competition, establishing minimum wages, and allowing workers to form unions, ultimately seeking to balance the interests of businesses and labor.

Bull Market: A period of rising stock prices characterized by investor optimism, often leading to increased trading activity and economic growth.

Buying on Margin: A practice in which investors borrow money to purchase stock, allowing them to buy more shares than they could with their own funds, which can amplify both gains and losses.

Dust Bowl - A period of severe dust storms in the 1930s that greatly damaged the ecology and agriculture of the US, worsening the economic downturn.

Smooth-Hawley Tariff: A law that raised import duties on thousands of goods, intended to protect American businesses but led to retaliatory tariffs and worsened the global economic situation.

Social Security: A government program providing financial assistance to the elderly, widows, and those unable to work, established to support vulnerable populations during economic hardship.

Tennessee Valley Authority (TVA): Federal agency that manages Tennessee river system and provides electricity to the southeastern U.S

Recovery, Reform, and Relief: three R's of the New Deal, focusing on immediate relief for the unemployed, recovery of the economy, and reform of the financial system to prevent future depressions.

Recover (New Deal): Temporary programs to restart economy through federal spending and job creating.

Reform (New Deal): Permanent programs to prevent another depression such as through regular legislation and new social welfare programs

Relief (New Deal): Immediate action to help those in-crisis such as creating jobs and bread lines and welfare.

Sit-Down Strike: A form of protest where workers remain in their workplace and refuse to work, used to demand better conditions and wages.

Bank Holiday: Business day financial institutions and banks are closed (until gov. examiners could investigate their financial condition)

Black Tuesday: date of the worst stock-market crash in American history and beginning of the Great Depression.
New York exchange crashed

Black Tuesday (What, When, Where)- October 29, 1929; New York stock market crashed

Bonus Expeditionary Force: Groups of WW1 veterans who marched on Washington D.C in 1932. Demanding immediate payment of their promised military service bonus, stopped by the US Army

Economic Boom: A period of sustained and rapid economic growth thats beyond normal

Speculation Boom: A period of economic activity where investors make high risk investments with the expectation of quick returns

Black Thursday: A significant stock market crash preceding Black Tuesday, where panic selling began.

Black Thursday (when): October 24, 1929.